If no one spends bitcoin what might happen?

boksoon

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Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

First of all Bitcoin is like a money it also use for paying that something you need in life, how could you do your daily activities without using any expenses? economy is already there it can not grow without any supporting by spender but we can admit ourselves that all daily routine are level there are spender together with the economic grow.

Ok! when we say "If no one spends bitcoin what might happen" if the dollar is there, the fiat money is there, everything is normal but the Users of Bitcoin are disappointed and discourage because all the time they spend their time to wait the price become high for their ambition to reach a huge profit from bitcoin is not worth it.

hoavantathan

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in my opinion, if no one spends BTC, almost people will spend money. some people will invest other cryto

jayco25

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Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

I believed if no one spends bitcoin the price will become stable in the market but do you think it will happen? Everyday a lot of people spend bitcoin buying token/coins in the market and some of investors use bitcoin to buy ICO's.

#Taklimakan

SGToken

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Probably if everyone stop using it the price and value may fall down. This can also stop the process of mining because if everyone stop transferring the bitcoin, how a miner can mine the transaction? But i think this won't happen because now days everyone is involve with bitcoin and everyone take there interest on it and investing with bitcoins. So the OP question of no one spending the bitcoin is just out question.

alicebrac

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So someone should also sell to make way for other people. Someone should use it and it might be sold by that person or company. It is also for bitcoin economy to let others get a hold of it.

Sahyadri

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No, that would definitely increase the price of this currency. It is because people love to buy something when it is hard to find. I will give you example of Xiaomi's phones. Even though their phones were okayish, they kept this supply demand gap factor which resulted in people queuing up to buy one of their phones. This led to a widespread interest and people started buying their phones more often.
So I feel bitcoin too would get expensive if this strategy is followed.

raidarksword

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What a great question though it might impossible because we all invested on bitcoin for safe keeping and wait for it to grow then for the time is right we can use it and mostly of us sell it to make profit. But still i guess it would stacked up the market and it would be pointless for keeping our bitcoin if we don't spend it.

chalbinov

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For a period the price would stagnate for a while until it became apparent that people weren’t using it enough. But within months people would probably start worrying and start selling out of fear. Then we would find the real decline in value and support and belief. After that, the eventual bottoming out would be inevitable. Since this is just a hypothetical question about what it would be like, it’s needless to say that this will probably not be the case.

saeroji92

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I strongly agree. I hate it for most of the time just to see if it really does not move. Sometimes I think the PC only produces but I check it, it really does not move. Nothing is done if the nonsense happens. Then bitcoin will get more piling up, let it not happen, we spend and share it to the needy,

sheldonnnn

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A lot of people do not want to spend their Bitcoins and continue to keep them. The opportunity for Bitcoin to grow is just too high to warrant spending it on trivial goods like a pair of shoes or a meal, especially considering that the amount of Bitcoin needed to buy a cheeseburger today could be enough for a steak tomorrow. For Bitcoin to find success as a regularly used currency, a thing many investors wish for, there needs to be stability and trust in the value, and with fluctuations of nearly 20% a day, that won’t happen anytime soon.

WakinXXX

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I can't just present that anything, bitcoins don't spend. Instead all accumulate it. Probably, it won't occur because if nobody spends money, then coins won't extend, then nobody will be able to save up.

Danglen1010

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Maybe bitcoin wouldn't have a value in any stores in the public. If you will going to buy some goods or pay bills using bitcoin in stores, maybe they wouldn't accept it.
If people will stop using bitcoin, it will have an effect in the law of supply and demand of bitcoin.

rtm125

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I can't even imagine such a situation. Still, someone regularly sells bitcoin or buys.

qtronix

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Then bitcoin will not be relevant as a currency, but will not cease to be profitable for investment. But this situation is unrealizable.

Galahad111

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Quote from: CarnagexD on April 03, 2018, 09:21:00 AM

The rule of supply and demand would break and the price of bitcoin would definitely drop because of the fluctuation on transaction which primarily target the market of bitcoin. Hence, negative impact could possibly driven in terms of price and the system of bitcoin which could somehow damage some investments and trading system that could give loss on many holding and possible investments.

I think a lot of people are in hope with it and very few people are spending their coins, and there are very few sites which accept Bitcoins. In the long term, this will be detrimental to the value of BTC. The real value of Bitcoin lies in its use as a payment medium. If people are not using it as a payment medium, then its significance and the importance will go down gradually.

Sandra999

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I agree with you. In an event of no one spending, any Bitcoin the price would stay stable for a long time. Mining would die off as there are no transactions to verify and the blockchain would freeze. Basically, everything would freeze until everyone begins to spend BTC again.

YoungMaster

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MYCRYPTOBANK.IO

If that happen, i think bitcoin price might stuck shows no movement due to there are no supply and demand on the market. Then all buyers and sellers will start looking for other altcoins.

Semar Mesem

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Bitcoin will certainly freeze and do not take long will die, this is the same with the body that no water input so that need will be lack of oxygen and die, but I'm sure this is not happening anytime soon because the bitcoin price is on the rise.

Jhun030383

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Absolutely bitcoins stability and growth will be very much affected when no one spends bitcoin. The circulation of its crypto currency bitcoin must be continous. You will be able to save more bitcoins but if you don't manage it properly who knows..its value had already decreased.

deepakg2m

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Quote from: DOGE12321 on August 07, 2016, 11:56:08 PM

I agree with you. In an event of no one spending, any Bitcoin the price would stay stable for a long time. Mining would die off as there are no transactions to verify and the blockchain would freeze. Basically, everything would freeze until everyone begins to spend BTC again.

Well said ,every thing would freeze.The price being stable for too long would force the investors to loose their interest and everyone would start switching to other forms of finance instead of cryptocurrency.

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